Training Objectives

Participants of the programme will attain an understanding of:

• The basic provisions of the PSD2 and EMD2 Directives and their practical application for the basic functions and roles in the payments sector.
• The background to the EMD2 and PSD2 and the aims they seek to achieve
• The operating provisions for PIs and EMIs under the applicable Directives
• Rules and approach for governance of these entities

Training Outline

The Legal Framework, Aim and Scope of PSD2 and EMD2: Overview, Aims and Scope

• The Legal Provisions Governing Payment Institutions and Electronic Money Institutions
• Historical Timeline of Regulatory Provisions
• The Background to the Directives
• The Aim and Scope of the Directives
• Definitions and Classifications
• Role of the Regulator and scope
• Upcoming Regulation: The PSD3

Authorisation: Overview of the authorisation process of PIs and EMIs

• Authorisation Application
• The Process Map
• Selection of Payment Services
• Forms and Questionnaires
• The Required Policies and Manuals
• Management, Control and Organisational Requirements
• Initial Capital Requirement
• Own Funds Requirement
• Timeframes for authorisation
• Authorisation & Activation

Payment Services of Annex 1 & Ancillary Services

• Service where cash to be placed on a payment account as well as all the operations required for operating a payment account
• Service where cash withdrawals from a payment account as well as all the operations required for operating a payment account
• Execution of payment transactions
• Execution of payment transactions where funds are covered by a credit line
• Issuing of payment instruments and/or acquiring of payment transactions
• Money Remittance
• Payment Initiation
• Account Information Services
• Ancillary Services
• Electronic Money services

Organisational Requirements and Governance: A description of the Organisational Requirements for PIs and EMIs

• Board of Directors Composition
• Organisational Structure and reporting lines
• Management and control
• Key Function Holders
• Outsourcing and Delegation

Basic Operational Provisions: Brief overview of some primary operational Provisions

• Information Provisions
• Rights and Obligations in the use and provision of payment services
• Low payment transactions
• Authorisation of transactions
• Execution of Payment transactions
• Liability
• Data Protection

Cross-border Activities

• Freedom of Establishment & Freedom to provide Services
• Branches and Tied Agents
• Supervision and Exchange of Information

Who Should Attend

The programme will benefit all professionals employed in the Payments and Electronic Money Sector or seeking to join the sector, such as:

• Executives
• Risk Managers
• Compliance Officers
• Lawyers
• Accountants
• Internal Auditors
• Professionals involved in Payment functions in EMIs/PIs
• Service Providers, who wish to gain an insight into PIs’ and EMIs’ legal framework and operations.

Training Style

The programme is designed to deliver knowledge and practical understanding of the Regulatory Framework, via short lectures, case-studies and practical examples. The training style is both training-focused, involving a combination of presentation and real-live examples, but also learner-focused, where participants are encouraged to raise questions, seek clarifications and share their opinions from their different perspectives and engage in an exchange of views and personal professional experiences.

Participants will benefit from feedback at the end of the programme and take away the knowledge gained to be transferred at their workplace.

CPD Recognition

This programme may be approved for up to 6 CPD units in Banking and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.